Home » Lucid’s $1 Billion Quarterly Loss Is Proof That You Need More Than Just The Best Car To Be Successful

Lucid’s $1 Billion Quarterly Loss Is Proof That You Need More Than Just The Best Car To Be Successful

Tmd Lucid Bad Qtr Ts

The entire Lucid adventure has been fascinating to watch — at least, it’s been fascinating if you’re not a shareholder. Every car company now claims to have at least a few ex-Tesla engineers on the roster, but Lucid can claim to have probably the most important ex-Tesla employee as its founder and former-CEO, Peter Rawlinson.

Unsurprisingly, the two Lucid vehicles for sale are arguably the best electric cars in their respective classes. It doesn’t matter. Building cars is hard. Building electric cars is harder, no matter what anyone pretends, and Lucid has yet to be able to get all the pieces to work together, resulting in a $1 billion loss for the quarter and suspended production guidance.

Vidframe Min Top
Vidframe Min Bottom

After crowing a lot about the threat of Chinese automakers, Ford is reportedly going to agree to sell part of one of its plants in Spain to a Chinese automaker. In Canada, Honda is predictably abandoning its EV production entirely.

Did you know it’s V6 Day? It’s apparently V6 Day.

Lucid Suspends Production Guidance For This Year

Lucid Cosmos Earth
Photo: Matt Hardigree

I went to Lucid’s big Investor Day in March, and the basic vibe the company was trying to impart was that it had a long-term plan for viability. Not everything was exactly the way they wanted it, but the addition of the Lucid Gravity and, eventually, its more affordable mid-sizer, would be enough to reach something that looked like profitability by the end of the decade.

If you existed in a vacuum and just drove the cars, that wouldn’t seem like so remote a possibility. There’s a large portfolio of EVs for sale in the United States, which might make you think we have a lot of great choices. That’s not quite true. There are lots of good choices, but few truly great ones.

If you’re one of those people who is an FSD true believer, you might argue that the Tesla Model S is better than the Lucid Air purely because of Tesla’s ADAS advantage. I’m not one of those people. That argument aside, in almost every other way the Lucid Air is a better car. In pure engineering terms, the Lucid Gravity is also, arguably, the best three-row crossover/SUV anyone sells.

That’s not enough. Technical greatness doesn’t equal sales, and even offsetting the Model S in the full-size EV sedan space isn’t enough to make the kind of money necessary to spin off a bunch of product lines.

With the Gravity out the door, Wall Street was looking for the company to make about $440 million and only lose the equivalent of about $2.64 per share. By those measures, Q1 was a big miss, with a loss per share of $3.46, and revenue of $282.5 million. Overall, the company lost $989,485, which rounds uncomfortably to $1 billion.

It gets worse, as CNBC points out:

Lucid Group suspended its vehicle production guidance for the year as its incoming CEO evaluates the all-electric vehicle manufacturer’s business operations, including the potential for lower output of EVs.

The company on Tuesday also said it needs to lower its “elevated inventory” of vehicles, which for automakers has historically meant decreasing or idling vehicle production.

Lucid cannot tell you exactly how many cars it’ll build or sell. Much of this has to do with a rough recall of every single Gravity due to a supplier issue involving a seat belt anchor. Will Lucid catch up later this year when the recall issue is fully resolved, or this just masking slacking demand? Can Lucid get its smaller, more affordable car out of the factory in time to compete with the R2, Model Y, I3X and every other car in that class?

Again, no one can question the engineering capabilities of Lucid, but that’s not enough. Building, marketing, selling, and delivering cars is complicated, and having a great car is only the start. Being a successful automaker means doing everything right, and that’s not been possible for Lucid yet. Of course, that was also true for Tesla at the beginning, but Tesla had no real competition.

Most companies wouldn’t be able to survive this, and Lucid continues to be a there-but-for-the-grace-of-the-Saudi-Public-Investment-Fund-goes-I operation. So far, it seems like Saudi Arabia would rather keep its electric automaker than its alternative golf business.

Ford Is Reportedly Going To Sell Part Of Its Spanish Operations To Geely

Ford Reinvents Bestselling Kuga Suv
The Ford Kuga SUV. Source: Ford

For all of the warnings about Chinese automakers coming to the United States, Ford seems willing to assist in the expansion of Chinese automakers in Europe. Sources have told Spain’s La Tribuna de Automoción that the empty Body 3 Complex at Ford’s Valencia plant is likely to be sold to Geely.

This vehicle, internally codenamed 135 , would feature three powertrain options (self-charging hybrid, plug-in hybrid, and electric) thanks to its GEA (Global Intelligent Electric Architecture) platform. This multi-energy, modular platform allows for the development of models ranging from compact cars to higher-segment vehicles. Furthermore, the same sources indicate that negotiations are also underway to explore the possibility of producing a vehicle for Ford based on this same architecture.

Ford used to make the Kuga at Body 3, but it’s since been mothballed. Nothing has been finalized, so it might not happen, though this has long been rumored to be happening and makes sense for Ford.

Honda Kills Canadian EV Plant Plans

4260305 002h
Source: Honda

Canada might soon become a more competitive market for electric cars, especially now that Chinese-built cars will be sold there in greater numbers. The United States is likely to become less competitive as automakers like Honda kill their EV ambitions, and it’s going to have knock-on effects in Canada.

As Nikkei Asia reports, Honda is officially abandoning its plans for an $11 billion EV plant in Canada that no longer made sense:

Honda had expected to invest a total of 15 billion Canadian dollars ($11 billion) in the EV plant, with a planned capacity of 240,000 vehicles a year, and the battery factory. It had acquired the land and was set to receive financial support from Canada.

The project aimed to capitalize on U.S. tax breaks on EV purchases included in the Inflation Reduction Act passed in 2022 under then-President Joe Biden. But the incentives were scrapped in September under President Donald Trump, adding roughly 20% to the price of flagship Tesla EVs, for example.

The U.S. in December lowered average fuel economy requirements for automakers as well, allowing for targets to be met without making large quantities of EVs. Stalled trade negotiations between Washington and Ottawa have added to the uncertainty.

Honda would be better off exporting one of its Chinese-built EVs to Canada at this point.

Happy V6 Day!

Nationalv6day Large

Nissan has made up a holiday called “V6 Day” to celebrate its re-commitment to the V6. There was a very special person at the big Nissan Z event this week in California, and Nissan even had a V6 Day cake!

“For decades, the V6 has been the beating heart of some of Nissan’s most iconic vehicles – delivering the durability, strength, and power our customers rely on,” said Christian Meunier, chairman, Nissan Americas. “From the speed and acceleration of our sports cars to the confident torque that defines our trucks and SUVs, the V6 offers a rare balance of performance and dependability. The V6 is close to my heart and the hearts of millions of American drivers. It will play an important role in our lineup for years to come, particularly with the return of the mighty Xterra.”

It’s 5/6, which means it’s V/6. Get it? GET IT?

You know what, Nissan has had a rough go of it lately, I’m gonna let them have this one. Happy V6 Day, Y’all!

What I’m Listening To While Writing TMD

I remember when t.A.T.u.’s “All The Things She Said” come out and the early Internet lost its minds. Most of it seems silly in retrospect. Anyway, this song was played both in Heated Rivalry and at my gym this morning, so I guess it’s having a moment.

The Big Question

What’s the best V6 of all time?

Top photo: Lucid

 

 

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Ok_Im_here
Member
Ok_Im_here
2 days ago

I love Lucid and hope it succeeds. Amazon lost over $3b before it became barely profitable for almost a decade. So over 15+ years in, Amazon became the largely profitable company it is today. Cars are much more capital intensive. I hope Lucid survives. $5 – $6/gal gas may help, though Americans can be stubborn. Lucid also needs a mass-market priced car.

Jon Myers
Jon Myers
2 days ago
Reply to  Ok_Im_here

The Saudi PIF is pulling back investments in sports and other places. They are the main financial support for Lucid. I am betting Lucid will be out of business or purchased for next to nothing by another manufacturer in less than a year. The cars have amazing efficiency and range but from what I ready in many places, tons of software bugs that annoy drivers. They are copying the Tesla playbook: fancy sedan then SUV before going mass market (think Model S and X then 3 and Y) but they are doing it 10 years later in a crowded market. I have an older Model S. Sure, it is old, but if I make an appointment with the app, mobile service will arrive and there are 2 service centers within an easy drive. It has a hatch unlike the Air so it is extremely practical. The charging network is top notch and everything just works. There are tons of Model Y’s driving all over the place and so far even Musk’s mismanagement and crazy politics has not driven the company out of business.

Ok_Im_here
Member
Ok_Im_here
1 day ago
Reply to  Jon Myers

There are specific reasons why they are not pulling out of EVs though. In fact they’ve pushed more money in while pulling funds from others. The PIF has invested in Uber with an understanding to buy Lucids, they’ve pushed a Lucid plant in Saudi Arabia, and are committed to buy ~100k Lucid vehicles. It’s more than just other investments, it’s a pivot to EV when the oil runs out strategy and given the state of the Iran war, it’s one that is proving to be a good idea.

It’s literally the seed for creating a domestic car industry from nothing with a 30% sales targets.

I also don’t view “buggy UI” as a problem on an SDV. It has been iterated until fixed, which is what I’ve encountered in reviews.

Last edited 1 day ago by Ok_Im_here
Brad the Slacker
Member
Brad the Slacker
1 day ago
Reply to  Jon Myers

I’ll take that bet. Let’s go to Polymarket! 🙂

TheDrunkenWrench
Member
TheDrunkenWrench
2 days ago

Alfa’s Busso V6 is THE BEST V6.

Otherwise I prefer my half dozen inline. 6 in a row, ready to go!

Albert Ferrer
Albert Ferrer
2 days ago

This is the correct answer.

Lotsofchops
Member
Lotsofchops
2 days ago

Overall, the company lost $989,485, which rounds uncomfortably to $1 billion.

Quick maths!
Also my X-Runner has the 1GR-FE V6, so it’s nice to have a day of recognition for a pretty decent but not amazing engine.

Last edited 2 days ago by Lotsofchops
TheDrunkenWrench
Member
TheDrunkenWrench
2 days ago
Reply to  Lotsofchops

Car’s not hot

Lotsofchops
Member
Lotsofchops
2 days ago

I haven’t thought of that song in years, but somehow it popped into my head with those numbers.

NC Miata NA
Member
NC Miata NA
2 days ago
Reply to  Lotsofchops

As they say, the difference between a million dollars and a billion dollars is about a billion dollars.

RAMbunctious
RAMbunctious
2 days ago
Reply to  NC Miata NA

The amount of people that don’t seem to realize the difference between the two is staggering.

D-dub
Member
D-dub
2 days ago
Reply to  RAMbunctious

There are 3 kinds of people in the world – those who are good at math and those who aren’t.

Spikersaurusrex
Member
Spikersaurusrex
2 days ago
Reply to  Lotsofchops

He did say the rounding was uncomfortable.

Credit to Steveshouseofcars for coming up with this first (see below). I came up with it separately though.

Last edited 2 days ago by Spikersaurusrex
Cars? I've owned a few
Member
Cars? I've owned a few
1 day ago
Reply to  Lotsofchops

OTOH, my 1990 V6 SR5 4×4 Xtracab’s 3VZ-E was a dog. I’m sure it may still be running around somewhere, but as others have said, it had the thirst of a V8 and the power of an I4.

Greg
Member
Greg
2 days ago

I think the only reason Tesla “succeeded” is because they were first, and the Musk cult of personality. Love him or hate him, its a thing. He has a rep from some of not inventing much, but piggy backing or taking over successful ideas. So here’s my thought.

Lucid hands down makes a great car, Tesla seems to be stagnant there and pivoting. How about Tesla buys Lucid and brings their car team over so that nice cars can keep being made while Tesla looks at robots and other things.

Ford and China. Jim is developing the relationships required to sell out Ford as soon as he’s legally able to.

JunkerDave
Member
JunkerDave
2 days ago
Reply to  Greg

Tesla buying Lucid would never work, because Elmo isn’t happy unless he’s totally controlling the show. If Lucid made the CT, it would have better fit & finish, but would still be a crappy pickup and it’d cost 3X as much. Elmo’s other companies can’t buy them all.

Mrbrown89
Member
Mrbrown89
2 days ago

Nissan GT-R V6 3.8 what a machine

Anthony Magagnoli
Anthony Magagnoli
2 days ago

My question on Lucid is… Are they actually profitable on a per-vehicle basis? If not, then the solution is not more sales, which would actually just increase losses. It’s the same problem as every EV, which is the base cost of the technology vs its value to consumers. Without government subsidies and mandates, we can see how everyone scuttled their plans for EV’s. They all stopped the bleeding as fast as they could. At the $100k+ price point, you could argue that the powertrain cost is less significant of a factor, as it’s a smaller percentage of the overall vehicle cost. But volumes suffer at the same time, even if they are profitable on a per-vehicle basis. My guess is that they’re losing money on at least their sub-$100k variants.
So, what’s their path forward? Somehow drive 20% of their costs out of the vehicles? Or, maybe pivot to offering eREV variants by partnering with an ICE engine manufacturer? While it may seem like giving up on one’s core identity, it could be the stop gap for the near and mid future, though it would require a lot of new engineering to accommodate. The more likely solution is to license their technology and sell their engineering services to others, maybe even outside of the automotive space.

Torque
Torque
1 day ago

As I understand it Lucids are built well, it is the software served to to the customer interacting w/it in the vehicles that still in 2026 kinda sucks.
Also while I do think the Gravity is the best ev (minus the software) available… calling it an suv is like calling a pig a horse. No one is buying it… both figuratively and literally.
Embracing it as a mini-van is likely Not going to work in the US market.
Which means it would need to be redesigned to make it look more like an suv bc love them or hate them… SUVs are currently what people are actually willing to buy.
Redesigning of course would cost even more money. Maybe they could get away with a mild refresh redesigning the face and along with the hood and wings w/o impacting range too much – ‘shrug’
And they gotta find a way to improve the software their customers interact with in their vehicles, that sadly has become a current base expectation.
Of course even making above corrections is likely to result only loosing less money, not to profit…
Getting into the black will require new product at roughly 1/2 the purchase price of their current 2 models which is a Hugh leap too

A. Barth
A. Barth
2 days ago

What’s the best V6 of all time?

While I love a Buick 3800, I think the Honda J35 is better.

Cars? I've owned a few
Member
Cars? I've owned a few
1 day ago
Reply to  A. Barth

I’ve driven both and I own a car with the latter. Other than having to do the timing belt every seven years or ~100K miles, the J35 is a great engine. Being OHV, the 3800 doesn’t have to deal with that. The J35 certainly makes more power. But the 3800 was adequate in my company issue ’89 Olds 88. And it surprised me getting low 30s mpg on the freeway. My Accord V6 gets upper 30s, but it’s 28 years newer.

If maintained by the book(s), I’m not sure which holds up longer.

Twobox Designgineer
Twobox Designgineer
2 days ago

So who’s sponsoring V8 Day on Friday?

4jim
4jim
2 days ago

That is also VE day.

Twobox Designgineer
Twobox Designgineer
2 days ago
Reply to  4jim

Ok, so it should be a European carmaker.

V10 Day falls on a Sunday this year, so I wonder whether Monday becomes V10 Day (celebrated).

[edit] a non-German carmaker. [/edit]

Last edited 2 days ago by Twobox Designgineer
V10omous
Member
V10omous
2 days ago

In this house, we celebrate V10 Day every day of the year.

Twobox Designgineer
Twobox Designgineer
2 days ago
Reply to  V10omous

*username checks out*

TheDrunkenWrench
Member
TheDrunkenWrench
2 days ago

I thought V8 day was on July 4th.

Twobox Designgineer
Twobox Designgineer
2 days ago

because ‘murica?

TheDrunkenWrench
Member
TheDrunkenWrench
2 days ago

Cause ‘murica. (says the canadian)

Manwich Sandwich
Member
Manwich Sandwich
2 days ago

Campbell’s of course…
https://en.wikipedia.org/wiki/V8_(drink)

Totally not a robot
Member
Totally not a robot
2 days ago

The tomato juice guys, clearly.

Rollin Hand
Rollin Hand
2 days ago

I loved the massaged 2.5 Duratec in my Contour SVT. Best sounding V6 I have ever heard, and I am not damning it with faint praise.

Realistically, if we are going with a normally aspirated V6, it’s hard to argue with Nissan’s VQ line, or the ol’ GM 3.8.

Turbos/superchargers are a different kettle of fish. The twin turbo v6 in the Nissan GTR sure makes a strong case though.

TurboFarts
Member
TurboFarts
2 days ago
Reply to  Rollin Hand

Honda’s J35?

Rollin Hand
Rollin Hand
2 days ago
Reply to  TurboFarts

Crossed my mind, as did the Alfa V6 that Clarkson liked, IIRC.

Jdoubledub
Member
Jdoubledub
2 days ago

Explains why all that Lucid talent has been getting hired at Slate. Hopefully it’s not just another grift and Slate can be successful.

Spikedlemon
Spikedlemon
2 days ago

Honda’s EV plant was, effectively, cancelled months ago when they cancelled their EV program.

This significant delay makes them sound like they’ve got some serious internal communication issues and less-than-good is going on at Honda.

Username, the Movie
Member
Username, the Movie
2 days ago

I truly dislike V6s. They sound terrible and I would rather have an inline4, inline6, or v8 for any performance or daily driving. Some are interesting though like the VR6, and respect to the GM v6s that last forever, the GNX too.

Matt Sexton
Member
Matt Sexton
2 days ago

I like the Mechachrome V634 used in F3/F2, but agree it’s difficult to make one sound sexy.

TheDrunkenWrench
Member
TheDrunkenWrench
2 days ago
Username, the Movie
Member
Username, the Movie
2 days ago

I suppose I have heard a decent Alfa V6 from time to time…..

86-GL
86-GL
2 days ago

Yuuup. That engine note literally made my hair stand on end like a dirty Jack White guitar solo.

TheDrunkenWrench
Member
TheDrunkenWrench
2 days ago
Reply to  86-GL

I could see Jack White driving an Alfa. Maybe park it next to his Suzuki Samurai.

LastStandard
LastStandard
2 days ago

I really liked the VQ40DE in my Xterra. Other than the gas mileage…

On paper, it was down a bit on power compared to the ‘Yota V6 in the Tacoma, but was way faster than my buddies 2016 Taco.

Spikedlemon
Spikedlemon
2 days ago
Reply to  LastStandard

I too enjoyed the VQ40 with 6MT when I had one. Clutch feel was less-than great; it was very digital at the very top, but once you got the hang of it it was ok.

RAMbunctious
RAMbunctious
2 days ago
Reply to  LastStandard

I drove a rental Frontier with the 4.0 back in 2017, I distinctly remember thinking “this thing’s got some guts!”. In 2019, I bought a 4Runner with the 4.0, and I NEVER had that thought.

I haven’t looked it up, but I’d wager the Nissan 4.0 makes it’s torque at a much lower RPM than the Yota 4.0. I saw some dyno caharts that showed the 1.6 turbo (or whatever it was) in the Chevy Sonic made more tq under 2k RPM than the Yota 4.0.

TurboFarts
Member
TurboFarts
2 days ago
Reply to  RAMbunctious

You would be wrong.

Vq40de is over square 95.5mm bore x 92 mm stroke and 9.7:1 CR

1grfe is under square 94 mm bore x 95 mm stroke and 10.0:1 CR

Waremon0
Member
Waremon0
2 days ago
Reply to  LastStandard

One of the things I miss most about my Xterra was the starter sound. It had a bit of an airplane starting whine mixed with a tractor which was just the lead-in to a very competent motor. I can still point out hearing a VQ in a crowded parking lot.

Dogisbadob
Dogisbadob
2 days ago

Have you driven a Geely lately? 😛

Yeah, quality has to be job 1 in Europe, as they actually have competition and a competitive free market.

The original VQ in the 4th gen Maxima is actually one of the better transverse V6 designs, and one of the easier ones to work on. It even has cutouts in the intake to allow access to the rear coils, which are a different shape than the front ones for exactly this reason. Of course, this was *just* before Ghosn took over.

The best V6 is this one LOL
https://www.theautopian.com/i-cant-decide-if-this-jaguar-v6-made-from-blanking-off-two-cylinders-from-a-v8-is-genius-or-just-lazy/

4jim
4jim
2 days ago

V6 day is so close to VE day that I had to close read that section as to make sure.

B3212M
B3212M
2 days ago

Lucid’s are incredibly impressive feats of engineering… that also are not that appealing visually (to me). The focus on Aero efficency over everything looks great on a spec sheet, but I don’t think really matters to the average EV buyer (and really shouldn’t matter to the average customer for any vehicle but people don’t buy cars based on rationality).

Personally, range numbers after 300 miles are a bit meaningless. I get some people want to drive hundreds of miles without stopping, but again I wonder in reality if there would have been a different market reaction to the Gravity if it didn’t look like a swoopy minivan (and it didn’t have serious software issues for the first 6 months).

Hindsight is 20/20 but a boxier SUV that was less aerodynamically efficient feels like it would have been a better option. Its a shame because from a engineering/tech POV, Lucid seems ahead of Rivian, but the R1 and R2 are much more visually appealing vehicles.

4jim
4jim
2 days ago

I thing the GM 3.8 is probably the title winner.
The best v-6 I have owned is a tie between my current fleet’s 3.6 Pentastar
and my old Commando 225 odd-fire with the 50lb flywheel.

Bags
Member
Bags
2 days ago

Overall, the company lost $989,485, which rounds uncomfortably to $1 billion

Does it?

Last edited 2 days ago by Bags
RataTejas
RataTejas
2 days ago
Reply to  Bags

Financial reports are almost always stated in $,000 values.

Steve's House of Cars
Member
Steve's House of Cars
2 days ago
Reply to  Bags

He did say it was an uncomfortable rounding…

A. Barth
A. Barth
2 days ago

What, like the back of a Volkswagen?

Steve's House of Cars
Member
Steve's House of Cars
2 days ago
Reply to  A. Barth

Can I interest you in a delicious pretzel?

James McHenry
Member
James McHenry
2 days ago

Of course Nissan, they who released the terror of the VQ on the world, would celebrate the V6.

Here’s my V6 shortlist:

The Chevrolet Indy V6
The Honda Indy V6
The Dino V6
The VR38DE (Not how it sounds, though.)
The Buick 3.8 (including the Buick Indy V6, despite them always blowing up)
The Chevrolet 4.3
The C30/C32, specifically in the NSX.

My not-likey list:
Any 2026 F1 power unit. (And really that’s not the V6s’ fault)
The VQ.

…yes, I realize this is Indy heavy; it’s May, the Speedway is open.

Last edited 2 days ago by James McHenry
Spikedlemon
Spikedlemon
2 days ago
Reply to  James McHenry

Why the VR and not the VQ (since VR is, effectively, a revised VQ)?
And do you mean the VR38DETT? (the Twin Turbo in GTR)

James McHenry
Member
James McHenry
2 days ago
Reply to  Spikedlemon

Mainly the stoutness of the VR and the fact the R35 is still one of my favorite cars. The turbos also mellow out the harshness of an aftermarket exhaust as well. And, yes, I was actually coming back to add the TT, but you commented so now I can’t. I guess that post will now have no TT.

TurboFarts
Member
TurboFarts
2 days ago
Reply to  James McHenry

We could use more posts with TTs

Spikersaurusrex
Member
Spikersaurusrex
2 days ago
Reply to  James McHenry

I’ll take a ’25 Mercedes F1 power unit (V6) as the best ever, but I’m not convinced on the ’26 yet.

V10omous
Member
V10omous
2 days ago

I’m an engineer and feel very qualified to say that the Lucid arc is the inevitable result of the myriad cries to “just let the engineers take over and kick out all the bean counters” that appear in automotive comment sections.

And the best V6 ever made was the Toyota 2GR.

Huffy Puffy
Member
Huffy Puffy
2 days ago
Reply to  V10omous

It honestly sounds pretty awesome.

Work there for years, spending billions of somebody else’s dollars with no expectation of profitability or mass market success?

Keep gettin’ those checks!

Totally not a robot
Member
Totally not a robot
2 days ago
Reply to  Huffy Puffy

Well, unfortunately the checks eventually start bouncing.

TheDrunkenWrench
Member
TheDrunkenWrench
2 days ago
Reply to  V10omous

Wasn’t that what did in Saab at the end?

V10omous
Member
V10omous
2 days ago

I always assumed that was just pre-bankruptcy GM doing its thing.

Chachi549
Chachi549
2 days ago

What do you guys think Lucid is doing wrong? I think they’re expensive but not moreso than their competitors. They look better and provide the same social cache that price demands- no one’s going to think you’re broke in a Lucid. And it’s a better car!

What’s missing? Are the rich just that different and hard to understand?

Maybe it’s an issue of exposure and cultural relevance. The car looks nice, but it doesn’t mean anything. Teslas are hated, but they mean something. Every other brand that excites people means something. Lucid means…engineering? That’s cool but it makes too much sense to succeed in these crazy times.

Personally, I think Autopians in 2050 will be writing ode blogs to what Lucid could have been.

Last edited 2 days ago by Chachi549
RataTejas
RataTejas
2 days ago
Reply to  Chachi549

Lucid – Tucker for the 21st Century

Spopepro
Member
Spopepro
2 days ago
Reply to  Chachi549

I maybe think there’s a real problem with being attached to the Saudi PIF. Not because of any moral standard, though that might come into play for a few out there. But because everything PIF seems to touch just kind of runs out of steam as the royal family loses interest. It’s a portfolio entirely made out of “going in different strategic directions at this time.” And I think few things will kill a car company as fast as the perception it won’t be around much longer.

Chachi549
Chachi549
2 days ago
Reply to  Spopepro

That makes sense, they might be providing lots of cash but no direction. Maybe a partner with less money but more connections and knowledge could get them in the US public.

They should at least be killing it in Saudi Arabia.

V10omous
Member
V10omous
2 days ago
Reply to  Chachi549

I would guess that gasoline is pretty reasonably priced in SA.

Spopepro
Member
Spopepro
2 days ago
Reply to  Chachi549

I mean, I have no direct knowledge of how a Saudi car buyer thinks, but PIF is also pulling back from their giant investment and push to make the Saudi Pro League (soccer) a major world player, pulling waaaaay back on the bonkers NEOM plans, pulling back on the qiddiya city plans… and that’s all just stuff that actually happens in SA and directly impacts the people there.

I would suspect they imagine Lucid to be just another moonshot investment that won’t be seen through.None of the rest have.

V10omous
Member
V10omous
2 days ago
Reply to  Spopepro

The difference is that Lucid and EVs in general are a hedge against the world moving away from their primary source of wealth, and probably have some excess value to them specifically for that reason.

V10omous
Member
V10omous
2 days ago
Reply to  Chachi549

I honestly don’t think it’s any more complicated than:

-The market for EVs in 2026 is a lot smaller than many optimists believed in 2016 or even 2021.

-No one is having a great deal of success selling sedans right now, and starting with one was a misstep over an SUV.

DaChicken
Member
DaChicken
2 days ago
Reply to  V10omous

I’m not financially qualified to say, but I’d imagine that goes doubly so for the up-market EVs as Lucid is playing in the $70k+ area (starting) with both of their lines.

The outgoing S/X were there at the right time with the right product in the right market to capture the initial magic but I think we just aren’t there anymore.

And, as someone that likes sedans, the shrinking selection there makes me sad.

V10omous
Member
V10omous
2 days ago
Reply to  DaChicken

Early adopters who bought the S/X were willing to put up with a lot, including high prices, to have a modern EV, but to really break into the broader $70-120K market in a significant way you have to take sales from a large number of truly excellent vehicles.

I like the Lucid a lot for what it is, but there was a 0% chance I was buying one instead of a Blackwing for example.

TheDrunkenWrench
Member
TheDrunkenWrench
2 days ago
Reply to  V10omous

I would argue that the market for EVs is there, but not at the price point so many manufacturers are targeting.

Manwich Sandwich
Member
Manwich Sandwich
2 days ago
Reply to  V10omous

“-The market for EVs in 2026 is a lot smaller than many optimists believed in 2016 or even 2021”

Except that the market for BEVs is not smaller, it actually is much bigger globally speaking. HOWEVER, there is a lot more and better competition now.

Back in 2016, the only company making good BEVs in volume was Tesla. Almost everyone else was making crappy compliance BEVs.

In 2021, some automakers finally came out with decent BEVs (like the Ford Mach E and the stuff from Hyundai/Kia). Plus by that time, the Chinese BEVs were starting to get decent.

And now these days, the BEV market is the biggest it has ever been. But the auto sales for Chinese automakers are also the biggest they’ve ever been.

V10omous
Member
V10omous
2 days ago

The projections 5 and 10 years ago for what percentage of the 2026 US market would be EVs were much higher than reality turned out to be.

Major OEMs are canceling EV programs left and right.

Without any commentary on whether this decision is wise or not, it does mean the environment Lucid finds itself in is a lot less friendly than its management or investors may have expected years ago.

Manwich Sandwich
Member
Manwich Sandwich
2 days ago
Reply to  V10omous

The projections 5 and 10 years ago for what percentage of the 2026 US market would be EVs were much higher than reality turned out to be.”

Except that the USA is not the entire market for automotive or BEV products.

And Lucid sells vehicles in other countries beyond the USA.

It’s not the size of the market, it’s the increased competition.

And regarding market projections from 5-10 years ago… Here’s one from 2019 saying the global market share for BEVs will be around 30% (but for the US market, it will only be 7%) by the year 2030.
https://www.greencarreports.com/news/1122249_forecast-in-2030-gasoline-will-still-power-7-out-of-10-new-u-s-vehicles

And where are we as of the end of last year?

BEVs were at about 25% market share as of the end of 2025:
https://electrek.co/2025/12/17/25-percent-of-new-cars-sold-globally-are-evs-heres-who-is-buying-them/?utm_source=dlvr.it&utm_medium=bluesky

So as of the end of 2025, we are at 25%… and that was 5 years away from 2030.

And for the US? That 7% estimate by 2030 has already been exceeded briefly before falling back to 6%
https://www.eia.gov/todayinenergy/detail.php?id=67144

So on that basis, I’d say BEV sales have grown FASTER than the projections from 5-10 years ago.

And I recall the projections from before 2015 being even more pessimistic.

I recall one projection from around 2012 where one jackass predicted that the entire size of the market for a vehicle like the Model S was 3000 units in total.

Of course since then, well over 200,000 Model S units were sold.

So as I said, it’s not that the market for BEVs has gotten smaller. Nor is it that the BEV market is shrinking globally.

The real issue is more and better competition at lower and higher price points (in that you have the Chinese BEVs on one end and electric models from Rolls Royce and others on the other end).

Major OEMs are canceling EV programs left and right.”

And in doing so, the other OEMs that are NOT cancelling their EV programs will eat their lunch in the future.

B3212M
B3212M
2 days ago
Reply to  Chachi549

I think its a mix of things. Being a start up versus an established automaker already limits your customer pool to people who are willing to take a risk.

Second is price, the market for high end EVs is already pretty finite and there is lots of competition from other start up/new brands (Rivian + Polestar) and the established automakers (GM/Cadillac, Porsche, Audi, Merc, BMW, Volvo, etc.). Less so in the 3 row market for the Gravity but I’d bet buyers probably are cross shopping the Gravity against the larger 2 row options.

Finally, I think the Gravity design is a bit too swooshy for its own good, dangerously close to minivanish in pictures. The Air is good looking, but the lux sedan market isn’t huge.

*Jason*
*Jason*
2 days ago
Reply to  B3212M

Being a start-up that is losing money is a big deal. Why by a Lucid when BMW will sell you an EV with more than 432 miles of range and are almost a sure bet to still be in business for 10 years?

I’m sure people are taking a lesson from Fisker’s 3rd bankruptcy.

Code-E
Code-E
2 days ago
Reply to  Chachi549

I think that it’s a matter of identity too. Like rivians are the patagonia car, teslas are–well teslas, the big three have the dodge vs ford vs chevrolet identity. I saw a paid influencer ad for lucid that was basically showing off how much storage the gravity had. Like is storage space an identity? stow – n – go, control blade, space frame, they all were engineering branding because good engineering in and of itself doesn’t sell. Without that that identifier they are left to the whims of the fickle ev market. I think in an ideal world, one of the legacy automakers that can’t figure out ev’s just buys them out and steals the engineering for their own evs as a jumping off point. Honda would probably be best considering acura has nothing compelling to offer and honda has no interest in doing any r&d at this point.

Twobox Designgineer
Twobox Designgineer
2 days ago
Reply to  Code-E

I remember a time when Mercedes ads were all about engineering.

Chachi549
Chachi549
2 days ago
Reply to  Code-E

I would kill for an Acura MDX that was actually a baby Lucid! Or a super efficient Honda Odyssey.

Torque
Torque
1 day ago
Reply to  Code-E

If bought by an existing automaker, to justify the initial and subsequent investments it needs to remain a legal separate entity from the mothership. Otherwise investments in the new purchase will never be able to justify themselves logically with highly mature products.
This is the argument Clayton Christensen makes in the book the innovators solution and logically it makes sense.

Huffy Puffy
Member
Huffy Puffy
2 days ago
Reply to  Chachi549

They don’t seem particularly interested in selling cars to people. The only reason I’ve heard of them at all is the Autopian, they’re way out of my price range, and I legitimately don’t know if there’s anywhere I can go look at and/or buy one within like a 3 hour drive of where I live.

*Jason*
*Jason*
2 days ago
Reply to  Chachi549

The problem is the exterior look. Aerodynamically great but doesn’t not fit with current design trends.

Data
Data
2 days ago

Best V6? Is it the VW VR6? It’s the VR6.

RataTejas
RataTejas
2 days ago

Best v6, sort of like tallest little person?

GM 3800 – Best quote I’ve seen “Can take more abuse than the child of two alcoholic parents”

Toyota 2GR, and the Yamaford 3.0

Spopepro
Member
Spopepro
2 days ago

It’s gotta be the Busso V6. The only one to ever sound dreamy.

Harvey Firebirdman
Member
Harvey Firebirdman
2 days ago

The turbo 3.8 GNX/Grand National/T-type/Turbo Trans Am had.

StillNotATony
Member
StillNotATony
2 days ago

Get it any way you want it.

NA?

Turbocharged?

Supercharged?

Manwich Sandwich
Member
Manwich Sandwich
2 days ago
Reply to  StillNotATony

I would like it as a gasoline-electric Atkinson-cycle hybrid mated to an e-CVT.

TurboFarts
Member
TurboFarts
2 days ago

Toyota, is that you?

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